Rising prevalence of chronic disease and health issues has led to a surge in the sales of high-end diagnostic machines, including CT scans machines and MRI machines. New technological advancements for enhancing efficiency and developing the state of the art technology with highly advanced MRI pulse oximeters are soaring the demand for MRI pulse oximeters. 7T MRI scanners have been approved by the FDA recently which are gaining popularity and is expected to witness an increase in demand for MRI pulse oximeters during 2020-25.
Moreover, with the rising medical tourism and health insurance policies in emerging economies is projected to attract the patients for the MRI scans thereby, driving the sales for MRI pulse oximeters. Adoption of MRI pulse oximeters in hospitals, ambulatory surgical centers, and diagnostic centers and snowballing patients visits to hospitals for the treatment of chronic diseases is increasing the sales of MRI pulse oximeters and is estimated to upsurge further during 2020-25.
According to the MarkNtel Advisors’ research report, “Global MRI Pulse Oximeters Market Analysis, 2020”, the CAGR of global MRI Pulse Oximeters market is expected to be around 5% during 2020-25.
Expansion of Premium Private Hospitals to Boost the Sales of MRI Pulse Oximeters
With the growing inclination towards private hospitals of individuals in increasing the demand for MRI machines. The premium private hospitals generally have high cost with high-end medical diagnostic tools. The privatization in hospitals has led to rapid technology adoption with magnifying investments in the healthcare sector. Emerging nations such as Saudi Arabia, India, and China are a lucrative market for the expansion of the private hospitals. Asia-Pacific market is gaining popularity due to the inexpensive medical treatment cost thereby attracting the patients worldwide. Middle East is expanding the total spending apart from crude oil to healthcare. Additionally, the government in Saudi Arabia spends around 15% of total spending on the healthcare sector and making improvements in the budget expanding it from USD 42 billion in 2018 to USD 46 billion in 2019 an increase of around 8%. Total per capita spending of India and China is less as compared to United States and United Kingdom but with the rising developments and medical facilities is expected to amplify the demand for MRI pulse oximeters in Middle East and Asia-Pacific region as revealed by MarkNtel Advisors’ in their research report, “Global MRI Pulse Oximeters Market
Analysis, 2020”.
According to the MarkNtel Advisors, the major leading players are Nonin Medical, Inc, EMCO Meditek Pvt Ltd., IRadimed Corporation, MIPM, Koninklijke Philips NV, CareFusion Corp, Masimo, Medtronic, Mediatech Equipment, Zensorium among others. The first portable oximeter for home care and sleep study modes known as Nellcor TM Portable SpO2 Monitoring Systems launched by company Covidien as a part of Nellcoe in 2014
“Global MRI Pulse Oximeters Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for MRI pulse oximeters providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
Industry Segmentation:
1. By Product Type (Wired MRI Pulse Oximeter, Wireless MRI Pulse Oximeter, Handheld Pulse Oximeters, Fingertip Pulse Oximeters)
2. By End User (Hospital, Ambulatory Surgical Centers and Diagnostic Laboratories)
3. By Modality (MRI Pulse Oximeter with Monitor, MRI Pulse Oximeter without monitor)
4. By Region (North America, Latin America, Europe, Middle East and Africa and Asia-Pacific)
5. By Country (United States, Canada, Mexico, Brazil, Argentina, Germany, Italy, United Kingdom, Spain, France, Saudi Arabia, UAE, China, India, Japan, ASEAN, Australia)
6. By Company (Nonin Medical, Inc, EMCO Meditek Pvt Ltd., IRadimed Corporation, MIPM, Koninklijke Philips NV, CareFusion Corp, Masimo, Medtronic, Mediatech Equipment, Zensorium)
Key questions answered in the study:
1. What are the current and future trends of the Global MRI Pulse Oximeters industry?
2. Which regions would be the hotspot for MRI pulse oximeters providers?
3. What are the key growth drivers and challenges for the Global MRI Pulse Oximeters industry?
4. Who are the leading players and what are the key strategic initiatives taken by them?
5. What are the key strategic imperatives for growth and success in Global MRI Pulse Oximeters industry?